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AAA: Watch for Falling Gas Prices

As millions of people take to the roads for the Thanksgiving holiday, many travelers will be filling up their gas tank.

The following is provided by AAA:

AAA estimates the national average price of gasoline will drop to between $3.25-3.40 a gallon by the holiday, similar to last year’s average of $3.32, which was the most expensive average ever on Thanksgiving. Despite the historically high prices paid by motorists this year, the national average has declined by nearly 40 cents a gallon since early October and should continue to drop through the end of the year. The national average price of gas for Thanksgiving from 2007-2011 is $2.75 a gallon.

11/18/12 Week Ago Year Ago National $3.42 $3.44 $3.38 Pennsylvania $3.63 $3.64 $3.44 Philadelphia (5-County) $3.67 $3.68 $3.45 South Jersey $3.47 $3.49 $3.22 Wilkes-Barre $3.59 $3.59 $3.42 Delaware $3.44 $3.46 $3.33 Crude Oil

$86.92 per

barrel (at

Friday's close)

$86.07 per

barrel

$102.59 per

barrel

What About Gas Rationing in NJ & NY?

In the immediate aftermath of Sandy, power outages in New York and New Jersey left many stations unable to operate pumps, despite gasoline in their storage tanks.  As power is restored to the region and distribution and resupply issues are being resolved, more and more gas stations are becoming operational.  Early in the week, Governor Christie (NJ) lifted gas rationing and by week’s end, both New York and New Jersey saw gas stations return to 85 to 90 percent operational.

[Edited 11/22/12 1:15pm to correct inaccurate headline.]

Frank Holmes November 22, 2012 at 05:56 PM
Did the person who wrote the headline read the story? The headline says gas prices may hit record high. The story says gas prices are dropping and are likely to continue to fall. Also, the subhead reads: "As millions of people take to the roads for the Thanksgiving holiday, many travelers will be filling up their gas tank." Ya think?
Pete Kennedy November 22, 2012 at 06:17 PM
Eek. Good catch, Frank. The headline has been corrected. Thanks, and Happy Thanksgiving.

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